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- Iain Grant
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Postmedia posts loss; to cut $50M by May
[Via The Star]
The company that owns the National Post, the Toronto Sun and other major Canadian newspapers is accelerating and hiking its goal to cut costs as it continues to bleed advertising, print circulation and digital media revenue.
Postmedia Network Canada Corp. says last year's acquisition of Quebecor's Sun Media newspapers helped push up the combined company's revenue to $251.1 million — up from $169.5 million for Postmedia alone.
However, the company is now aiming for cost reductions of $80 million by mid-2017 — up from its previous goal of $50 million in cuts by the end of 2017.
Postmedia says it expects the first $50 million of savings will be implemented by the end of its third quarter, which ends May 31. It didn't say how it would achieve those savings.
more...
Madness takes its toll. Please have exact change.
- Mark Elliot
- Member
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Re: Postmedia posts loss; to cut $50M by May
Everybody I know at the Sun is nervous.
- Mark Elliot
- Member
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Re: Postmedia posts loss; to cut $50M by May
Via Weisblott at 12:36: Kevin O'Leary may not save Canada—but could he save Postmedia? The newspaper chain, which has at least one analyst speculating that its market value is zero, seems absolutely enamoured with the idea that the unilingually unctuous Shark Tank judge could run for federal Conservative leader. National Post columnist Michael Den Tandt argues that O'Leary would be a good fit, while Ottawa Sun columnist Anthony Furey says, "Bring it on!" Perhaps this is all just one big prelude to O'Leary buying the Postmedia chain and turning it into his personal self-promotion machine.
- ckg927
- Member
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Re: Postmedia posts loss; to cut $50M by May
If that's the case, that means I'd never buy the National Putz ever again. (Sorry, but the gloss that Frank Magazine tagged on the Post many years ago has stayed with me. These days, they're calling the company Toastmedia.)
Last edited by ckg927 (January 18, 2016 3:02 pm)
- Old Codger
- Unregistered
Re: Postmedia posts loss; to cut $50M by May
It is what it is. Sad but true. Toodles.
O'Leary? Canada's Donald Trump? [politically speaking]. Please... ... ...NO!!! What a dink!!!
- Ms. C.
- Unregistered
Re: Postmedia posts loss; to cut $50M by May
Prime Minister Kevin O'Leary
Lou Schizas, Minister of Finance
John Derringer, Minister of Defence
Justice Minister Iain Grant
Old Codger - Minister of Veterans Affairs
- Old Codger
- Unregistered
Re: Postmedia posts loss; to cut $50M by May
Surely you jest. Yet... ... ...I'm actually somewhat qualified to handle THAT specific portfolio. Family in the services dating back 3 generations and the 2 BIG wars...plus years as an executive with the Royal Canadian Legion...including past President [we're not supposed to 'discuss' politics... ... ...in the Member's Lounge at the Legion.]
O'Leary is therefore...still a DINK. [and he's full of shyte]
- Ms. C.
- Unregistered
Re: Postmedia posts loss; to cut $50M by May
Old Codger wrote:
I'm actually somewhat qualified to handle THAT specific portfolio. Family in the services dating back 3 generations and the 2 BIG wars...plus years as an executive with the Royal Canadian Legion
Or how about a Senate appointment? Drinks with Mike, Pamela and Patrick, when he gets over his current setback, have got to look good compared to the Legion bar, eh?